Bassett Furniture Reports Q1 FY26 Results: Revenues Down 2.2%, Operating Income at $1.2M, Diluted EPS at $0.13

Bassett Furniture Industries reported a 2.2% decline in Q1 revenues, with operating income at $1.2 million or 1.4% of sales, compared to $2.5 million or 3.0% of sales in the prior year. Gross margin decreased by 80 basis points due to lower margins in wholesale and retail business. Diluted earnings per share were $0.13, compared to $0.21 per share in the prior year. The company used $5.5 million of cash in operating activities.